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I work in a privately owned company which awards phantom shares of stock as a bonus. These are not real shares but their value does follow the value of the company. I have decided to become a part time employee to spend more time with my daughter and since the bonus program is only for full time employees the company is going to pay out the value of my "stock". They plan to do this in 2007 as a lump-sum.

My question is: is there any way to minimize the tax on this payout. Since it isn't real stock I can't transfer it and I can't treat it as long term capital gains. Any ideas?
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